Morning market update 24 May, 2016

- 24 May 2016

The Australian market looks set to open flat following a poor performance on Wall Street where a bounce in Apple failed to offset concerns that the US Federal Reserve could raise interest rates sooner rather than later.

The SPI is trading at 5334, down 1 point.

Locally, in economic news, Reserve Bank of Australia governor Glenn Stevens is slated to speak at a Trans-Tasman Business Circle function in Sydney, while the ANZ-Roy Morgan weekly consumer confidence survey is due out.

In equities news, Boart Longyear holds its annual general meeting in Adelaide.

Key Numbers

The SPI is trading at 5334, down 1 point.

AUD is at US72.24¢, 78.92 Japanese yen, 64.39 Euro cents and 49.87 British pence

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